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9051 Lucerne Ave 3 Unit Apartment Building $3,749,000 ($1,249,667/Unit) 4% Cap Rate Culver City, CA 90232
INVESTMENT HIGHLIGHTS
- Newly built - Completed in 2025, this triplex offers three fully leased units, achieving top-of-market rents, totaling $17,250 / month.
- High-quality, selective renters - Young professionals and families who value location, amenities, and lifestyle above the commitment of buying.
- Low overhead and maintenance - Tenants pay all utilities.
- Irreplaceable location - Walkable to Culver Steps, Culver Hotel, Amazon Studios, Culver Studios, Erewon, Trader Joe’s, Salt & Straw, etc.
- Every detail is thoughtfully curated - White oak doors, premium counters & floors, designer fixtures, closet built-ins, private entrances, etc.
- Potential for both owner-occupancy and investment returns.
EXECUTIVE SUMMARY
PRIME OWNER OCCUPANT ASSET: This newly built triplex is a true best-in-class asset in one of the city's most coveted locations.Situated in the very heart of Culver City, this property is truly irreplaceable. Fully leased at top-of-market rents totaling $17,250 per month, it offers exceptional income stability. The tenant base consists of well-compensated professionals who prioritize location, amenities, and lifestyle over the commitments of ownership.Every element was thoughtfully curated -- from private entrances for each unit to white oak doors, premium countertops and flooring, designer fixtures, custom closet built-ins, and a full suite of new appliances.The location is unmatched -- walkable to: Culver Steps, Culver Hotel, Amazon Studios, Culver Studios, Erewhon, Trader Joe's, Salt & Straw, Philz Coffee, Platform Shopping District, Vespertine, Culver City Stairs, Helms Bakery District, and more.With State Assembly Bill 8 and other measures further restricting new development, opportunities of this caliber are increasingly scarce. Perfect for a 1031 Exchange, this property also offers flexibility for the discerning buyer who may choose to occupy one of the well-appointed units as a primary residence or pied-a-terre, enjoying the vibrancy of Culver City while collecting income from the additional units.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$207,000
|
$54.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$207,000
|
$54.47
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$57,000
|
$15.00
|
| Net Operating Income |
$150,000
|
$39.47
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $207,000 |
| Annual Per SF | $54.47 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $207,000 |
| Annual Per SF | $54.47 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $57,000 |
| Annual Per SF | $15.00 |
| Net Operating Income | |
|---|---|
| Annual | $150,000 |
| Annual Per SF | $39.47 |
PROPERTY FACTS
| Price | $3,749,000 | Property Subtype | Apartment |
| Price Per Unit | $1,249,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4% | Building Size | 3,800 SF |
| Gross Rent Multiplier | 18.1 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2024 |
| Zoning | CCR2YY - Residential multi-family | ||
| Price | $3,749,000 |
| Price Per Unit | $1,249,667 |
| Sale Type | Investment |
| Cap Rate | 4% |
| Gross Rent Multiplier | 18.1 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2024 |
| Zoning | CCR2YY - Residential multi-family |
AMENITIES
SITE AMENITIES
- Controlled Access
- Fenced Lot
- Gated
1 1
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (86)
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9051 Lucerne Ave
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